How many renters live in Benoit, Mississippi?
The City of Benoit has 547 people living in 185 households.
There are 160 renters living in 57 renter households in this City. Renters make up 29.25 percent of the population living in Benoit.
What is the rental market like in Benoit, Mississippi?
There are an estimated 205 housing units in the Benoit area. Of these, 59 units are rental homes, making up 29 percent of the housing market. For every renter household in Benoit, Mississippi, there are 1 rental units.
What is the vacancy rate for rentals in Benoit?
The rental vacancy rate in Benoit is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Benoit for each bedroom size?
Occupied Rental Units by Size in Benoit
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 10 | 39 | 8 |
Occupied Rental Units by Size in Benoit
A large number of apartments in Benoit have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Benoit are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 39 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Benoit
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $683 to $1,203. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $683 |
| One BR | $687 |
| Two BR | $903 |
| Three BR | $1,120 |
| Four BR | $1,203 |
2024 Fair Market Rents in Benoit, Mississippi
How many units are rented at Fair Market Rent (FMR) in Benoit?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Two BR | 6 | 60 percent |
Rental Units Below FMR in Benoit, Mississippi
How many affordable rental units are in Benoit?
Income Based Apartments in Benoit, Mississippi
Benoit features 24 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Benoit, Mississippi
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Benoit.
Housing Choice Vouchers in Benoit, Mississippi
On average, Section 8 Housing Choice vouchers pay Benoit landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Benoit.
The maximum amount a voucher would pay on behalf of a low-income tenant in Benoit, Mississippi for a two-bedroom apartment is between $813 and $993.
Sourced from federal housing data and AffordableHousingOnline.com research.
